SVN Commercial Partners’ Elon Gerberg Negotiates Sale Of Prime Downtown Delray Corner
The property sold for $532 a square foot, which reflects a 4.11% cap rate.
The property sold for $532 a square foot, which reflects a 4.11% cap rate.
The fully-occupied retail plaza features 138 feet of frontage along North State Rd 7 (US Highway 441), benefiting from a daily traffic count of over 52,000 vehicles.
With a sale price of ±$185 per square foot, the sale established a new high watermark for small bay warehouses.
Formerly of Marcus and Millichap, the pair has been chosen to lead the newly formed ‘ROI Partners’ (Retail, Office, and Industrial) at SVNCP.
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